According to the most recent market research analysis, the global Flexible Battery Market is expected to experience rapid growth. The market is anticipated to grow at an amazing Compound Annual Growth Rate (CAGR) of 24.7% over the projected period, rising from USD 142 million in 2022 to an impressive USD 296 million by 2025.

According to type, the market is divided into thin-film (which includes lithium-ion and lithium polymer batteries), printed, and curved batteries, representing a varied market environment. Additionally, the report divides the market into rechargeable and single-use batteries based on chargeability to account for consumers' changing demands and preferences.

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Smart packaging application held the largest market size in the overall flexible battery market during the forecast period

Within the flexible battery market, the smart packaging application sector has grown to be the most lucrative during the anticipated era. Due to the high demand for smart packaging solutions, this dominance was noted in 2015 and has persisted since then. Disposable batteries, sensors, printed displays, circuits, and other electrical elements like anti-theft tags, RFID tags, and smart labels are all included in smart packaging. Flexible power sources are used by packaging producers to integrate music, display text, and interactive media into containers since the changing packaging requirements have a significant impact on consumer choices.

Thin-film battery segment to hold the largest share and grow at the highest rate by 2022

By 2022, the thin-film battery category in the worldwide flexible battery market is anticipated to hold the biggest market share and experience the fastest growth. Due to the tendency of product miniaturisation in these industries, thin-film batteries have emerged as a popular option in many applications, including smart packaging, smart cards, wearables, and medical devices. The need for thin-film batteries has increased due to this trend, greatly boosting their market growth. These batteries are highly sought-after in the electronics sector due to their low self-discharge rate and cost-effectiveness when compared to lithium polymer batteries. Due to this significant increase in demand, the thin-film flexible battery industry has cemented its place as a prominent and quickly expanding submarket of the overall flexible battery sector.

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APAC expected to grow at the highest rate between 2016 and 2022

The flexible battery market is anticipated to develop at the fastest rate between 2016 and 2022 in the Asia-Pacific (APAC) region. Major consumer electronics producers in APAC are at the forefront of technological advancement in product design, putting an increasing amount of emphasis on the use of thin power sources to match the flexible designs of their goods. This technical development is notably visible in the consumer electronics and smart packaging industries, where wearable technology is becoming increasingly popular. The expansion of the market for thin and flexible batteries in the APAC region is further fueled by the Internet of Things (IoT) integration in medical devices and the continued trend of wireless device miniaturisation.

Major players involved in the development of flexible battery include Samsung SDI Co., Ltd. (South Korea), LG Chem Ltd. (South Korea), STMicroelectronics N.V. (Netherland), Enfucell Oy Ltd. (Finland), Blue Spark Technologies Ltd. (U.S.), Rocket Electric Co. ltd (South Korea), Fullriver Battery New Technology Co., Ltd. (China), Paper Battery Co. Inc. (U.S.), BrightVolt, Inc. (U.S.), Panasonic Corporation (Japan), Ultralife Corporation (U.S.), and NEC Energy Solutions (U.S.).

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